UNIVERSITY CITY, Mo. - The University City Council has introduced for public review and comment four bills on the redevelopment and reinvestment plan for the Second and Third Ward and move forward with controversial plans to redevelop a shopping area long Olive Boulevard near I-70.
City leaders will explain the new redevelopment plan at a news conference at 9:00 a.m. Monday, May 20.
“University City is committed to a healthy, vibrant, stable community that is racially and economically diverse and inclusive. The Olive/1-170 Redevelopment is one component of a master plan to diversify and expand our local economy and revitalize and reinvest in the Third Ward of University City,” said Terry Crow, Mayor of University City.
The $70 million dollar tax- break deal was renegotiated after an error was found in the funding plan.
Many residents and businesses in the area say the redevelopment would force them to relocate.